Abstract: China`s energy consumption has a large growth and has become the world largest energy consumer along with the fast-growing economy. The domestic oil production and imported oil can no longer satisfy China`s oil demand. Under this circumstances, investing in overseas oil industry is a solution need to be considered. This paper analyses the investment characteristics of energy industry, especially focuses on the industry background and investment pattern of China`s energy enterprise world-wide direct investment. By analyzing statistics from China`s Outward Foreign Direct Investment Bulletin, China Global Investment Tracker and BP Statistical Review of World Energy 2013, the result can be concluded as two points: the opportunities and the challenges. China`s energy enterprises would benefit from: ①Government going-out policy, a national-level guide for outgoing direct investment. ②The massive foreign exchange, which ensure the capital to invest abroad. ③The appreciation of the RMB that enable Chinese enterprises purchasing more asset by the same sum of capital.④Some transnational energy companies are attenuated by the financial crisis and willing to sell their quality assets. However, the unstable of oil exporting countries, the bias of the Western and the limit of transport are the main challenges that China`s energy enterprises have to overcome. Several suggestions are provides in this paper: ①Assist less developed oil exporting countries by construct infrastructure and offer employment to integrate local environment. ②Cooperate with western transnational energy companies to reduce the pressure from the west and learn from their advanced management. ③Diversify the oil importing channel by construct oil and gas pipeline from northeast, northwest and southwest of China.

摘要： 伴随着经济的高速发展，中国能源的消耗亦大幅度增长，已成为世界第一位的能源消费大国。目前国内生产或以贸易进口石油已无法满足需求。在这种形势下，对外直接投资是保证能源供给的可行路径之一。根据商务部对外投资统计公报等数据，从中国能源产业近年对外投资特征入手，着重探讨了石油开采业在世界范围内对外直接投资的行业背景与投资模式，具体分析了中国石油企业对外投资的机遇与挑战，以期为中国石油开采业的“走出去”战略提供相应的应对措施。